Jan. 31, 2018 – Cascades Inc., a manufacturer of green packaging and tissue products, says it has completed the sale of the building and land of its Maspeth plant, located in the state of New York, for US$72 million.
The company says it accepted an offer from a private buyer and will continue to use the facility until December 31, 2018, the date the plant is scheduled to close.
Last August, as part of the modernization and optimization of its operations in the Northeastern U.S., Cascades announced its plan to shut down the packaging plant due to the physical limitations of the site. The volumes will be redeployed to other Cascades units over the course of the year.
Charles Malo, president and COO of Cascades Containerboard Packaging, said, “The reorganization of our activities in the region will be done gradually to ensure a smooth transition for our customers, thus continuing to reinforce our commitment and ability to act as a preferred partner in their ongoing development.”
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. The company employs 11,000 women and men in more than 90 production units across North America and Europe.
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